This paper aims at comparing and discussing Chinese current acquisition systems of public company from the perspective of equity and efficiency.It put forward that the special share structure of Chinese public company decides that acquisition by agreement is the most efficient system arrangement,but,unfortunately,this trade system can not guarantee the equity of the acquisition trade in practice.On the contrary,acquisition by tender offer helps to improve the equity of acquisition trade,but the current compulsive tender offer system affects the efficiency of acquisition trade negatively.In order to improve the efficiency of acquisition system of public company,the current acquisition trade system has to be improved and simultaneous reforms on other systems of capital market are also needed.
Collected Essays On Finance and Economics
acquisition of public company
acquisition by agreement
acquisition by tender offer